What is bitcoin?

A peer-to-peer electronic cash system.

Bitcoin is an experimental currency created by Satoshi Nakamoto which uses peer-to-peer technology to operate. Anyone can take part as verifying transactions and the issuing of bitcoins is carried out by the Bitcoin network with no central authority or banks.

Bitcoin is a new invention in active development exploring ideas that have never been attempted before, its future cannot be predicted so use at your own risk.

Can I mine bitcoin?

While it is possible for anyone to mine bitcoin only those that make a serious investment will be able to turn a profit. If you're interested in mining as a hobby be aware that you will likely operate at a loss.

You can contribute to the Bitcoin network by running a full node which will host the blockchain and propagate transactions. Running a full node that you have full control over will also improve your privacy and security compared to using a light wallet.

Decentralized cryptocurrency, that is no originating node, is the greatest opportunity for someone to meet KYC and AML requirements will be the platform to keep an eye on. This just looks like a payout method that the IRS can follow.